TotalEnergies has decided to cap fuel prices at €1.94/liter for its retail customers subscribing to its electricity and gas offers, from September 2, 2024.
This decision comes against a backdrop of generally rising energy prices, fueled by geopolitical tensions and increased volatility in oil markets.
The Group is thus adapting its pricing strategy in line with current economic pressures, while seeking to maintain the competitiveness of its offerings to customers sensitive to market fluctuations. This ceiling comes at a time when almost a third of the Group’s stations are already charging prices above this limit, particularly in rural areas and on freeways.
These variations can be explained by higher supply and distribution costs, making this cap relevant for a significant part of the distribution network.
The customers concerned will benefit from this price upon presentation of their loyalty card when making station purchases.
Implications for the fuel market
TotalEnergies’ move comes at a time when the average price of diesel in France is €1.63/liter, and that of Super Unleaded 95 (SP95) €1.78/liter, according to recent data from the French Directorate General for Energy and Climate (DGEC).
Although the new ceiling of €1.94/liter may seem insignificant for the majority of filling stations, it could become an essential tool for stabilizing prices against a backdrop of continuing fluctuations in the oil market.
The Group, which had already introduced a €1.99/liter cap in 2023, is maintaining this limit for all its other customers. The absence of any communication on the financial impact of these measures shows that the company favors a pragmatic approach, focused on market risk management and customer satisfaction, rather than on displaying its internal costs.
